FloQast, a leading provider of fintech accountancy software, has successfully closed its Series E funding round, securing $100 million in investment. The round, led by ICONIQ Growth, with Roy Luo joining FloQast's Board of Directors, has elevated the company's post-money valuation to $1.6 billion. Joining as first-time investors are BDT & MSD Partners and World Innovation Lab (WiL), alongside continued participation from Meritech Capital and Sapphire Ventures.
With a clientele including industry giants such as Twilio, the Los Angeles Lakers, Zoom, and Snowflake, FloQast has positioned itself as an industry leader, serving over 2,600 accounting teams globally. The infusion of capital from ICONIQ Growth, renowned for backing high-growth technology companies, signifies a significant milestone for FloQast. The company's CEO and Co-Founder, Mike Whitmire, emphasizes the transformative role of FloQast in accelerating financial operations, leveraging AI technology to streamline processes and enhance efficiency, accuracy, and compliance across financial functions. This funding will further drive research and development efforts, fueling innovation in accounting workflows and facilitating global expansion, as FloQast continues its trajectory of growth and market leadership.
